The Nasdaq suffers its worst session since March with tech titans such as Alphabet, Facebook and Microsoft all tumbling. There is talk of a looming broader correction in the sector. Asian markets see more selling as U.S. yields remain at 3-month highs with pandemic support set to be wound down. The Federal Reserve Chairman Jerome Powell warns Congress that inflationary pressures could be around for longer than first thought due to worsening supply chain pressures. U.S. Treasury Secretary Janet Yellen warns against a debt ceiling crisis after the Senate blocks a bill to extend the limit, saying the U.S. runs the risk of a “self-inflicted wound” on its economy. And troubled property developer Evergrande offloads a $1.5bn minority stake in a Chinese bank to a state-owned firm.

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